Va Tech Wabag Ltd Share Price

History of Va Tech Wabag Ltd

VA Tech Wabag Limited was erstwhile incorporated on February 17, 1995 as 'Balcke Durr Cooling Towers Limited'. The name of the Company was changed from Balcke Durr Cooling Towers Limited to Balcke Durr and Wabag Technologies Limited and further to VA Tech Wabag Limited in 1999. The Company has established itself as a global leader in water technology. WABAG's global footprint spans over 25 countries across key geographies including India, Southeast Asia, the Middle East, Africa and Europe. This widespread presence allows it to cater to diverse water management needs across both municipal and industrial sectors. Company's principal activities include design, supply, installation, construction and operational management of drinking water, wastewater treatment, industrial water treatment ...and desalination plants. The Company is a multinational player in the water treatment industry. It provide a range of EPC and O&M solutions for sewage treatment, processed and drinking water treatment, effluents treatment, sludge treatment, desalination and reuse for institutional clients like municipal corporations and companies in the infrastructure sector such as power, steel and oil and gas companies. The company is having their market presence in India, the Middle East, North Africa, Central and Eastern Europe, China and South East Asia through their principal offices in India, Austria, the Czech Republic, China, Switzerland, Algeria, Romania, Tunisia, UAE, Libya and Macao. They divide their business into four strategic business units namely Municipal Business Group, Industrial Water Business Group, Operations Business Group and International Business Group. WABAG, over the years has expanded its global reach through Overseas Direct Investments (ODI), either through subsidiaries, joint venture or associate companies. The company has 18 subsidiaries, 3 associates and a joint venture entity as on March 31, 2018. The company is having their R & D centres located in Chennai, India and at Vienna and Winterthur in Austria and Switzerland respectively. The company was awarded the certificate of commencement of business on March 8, 1995. Initially, the company involved in the business of design and construction of cooling towers and was a subsidiary of Balcke-Durr Aktiengesellschaft, a German company which was held by Deutsche Babcock. In the year 1996, the company started a water treatment division. In April 1997, the company undertook first EPC order from Reliance Petroleum. In April 1999, the Austrian group VA Tech acquired the water business of Deutsche Babcock operating under the Wabag brand name. In India, the water and non water divisions of the company were de-merged and the non-water division was transferred to BDT Ltd. Pursuant to the de-merger and change of name, the ompany's primary business was changed to design, supply, construction and erection of water, wastewater treatment plants and operation and maintenance of the same. In March 2000, the company entered into municipal segment by received their fist municipal order from Chennai Metropolitan Water Supply and Sewerage Board. In September 2000, they received the ISO 9001:2000 Certification from Lloyd's Register Quality Assurance. In July 2002, the company started their O&M activity and they received their first O&M order from Chennai Metropolitan Water Supply and Sewerage Board. In September 2002, they received an order worth Rs 7000 lakh from Bangalore Water Supply and Sewerage Board. In September 2005, I-Ven Water Treatment Technologies Ltd acquired a majority stake in the company. In April 2006, as per the scheme of merger, I-Ven Water Treatment Technologies Ltd was amalgamated with the company. In August 2006, the majority shareholding of the company was acquired by Rajiv Mittal, Amit Sengupta, Shiv Narayan Saraf and S Varadarajan together with ICICI Venture Funds Management Company Ltd. In September 2006, the company received an order worth approximately Rs 18,638 lakh from Kerala Water Authority. In April 2007, the company created the four SBUs, namely municipal, industrial, international and operations business group. In August 2007, they incorporated Wabag Singapore. In September 2007, the company received their first overseas O&M order from Qatar. In October 2007, they completed the construction of a plant water systems package for Durgapur Projects Ltd. In November 6, 2007, the company through their wholly owned subsidiary Wabag Singapore acquired the entire shareholding of Wabag Austria. Pursuant to this acquisition, Wabag Austria and their subsidiaries became the subsidiary companies. In December 6, 2007, the company in association with Badriya Hassan Makki incorporated a joint venture company now called VA Tech Wabag (Gulf) Contracting LLC, in which the company holds a 49% shareholding. In February 2008, the company incorporated Wabag Water Services s.r.l, in Romania. In March 2008, they received their first overseas EPC order from Oman. In May 2008, they started International Engineering Centre in Pune. Also, they opened a branch office in Oman. In June 2008, they received order worth Rs 19,071 lakh from Delhi Jal Board. In May 2009, the company incorporated VA Tech Wabag (Hong Kong) Ltd. Also, they received ISO-9001:2008 Certification from Bureau Veritas. In December 2009, they received order worth Rs 103,368 lakh order for seawater desalination plant from Chennai Metropolitan Water Supply and Sewerage Board. In December 21, 2009, the company through their subsidiary, VA Tech Wabag (Hong Kong) Ltd, incorporated a subsidiary called Beijing VA Tech Wabag Water Treatment Technology Co Ltd, in which VA Tech Wabag (Hong Kong) Ltd has a 100% shareholding. The company completed the Perungudi plant on a DBO basis where they constructed a plant with a capacity of 54 MLD and have an O&M contract for a period of 10 years. They also completed execution of a 455 MLD water treatment plant at Panjrapur for the Brihanmumbai Municipal Corporation. The company was awarded the contract for a seawater reverse osmosis desalination plant with a capacity of 1,00,000 m3/d in Chennai including an O&M contract for seven years. During FY 2013-14, the Company received orders for its Industrial Water Group (IWG) from international petrochemical and fertilizer industry. It executed projects involving complex processes like boron removal, a first-of-its-kind treatment in India. The Swiss office of WABAG implemented about 36 projects in CADISON; the International Engineering Centre (Pune) and the MBG in Chennai have successfully completed the pilot project. In order to bring uniformity in the software usage the Company adopted the CADISON platform for engineering during the financial year. WABAG has further developed the direct application of Powdered Activated Carbon (PAC) onto ultra-filtration membranes and the partial PAC recovery. During FY 2014-15, WABAG entered into a technology tie up with Royal Haskoning DHV for the introduction of state-of-the-art Nereda Technology in India, apart from Switzerland to meet the growing market expectations. During year 2015-16, Malaysia's National Oil and Gas company, Petroliam Nasional Berhad (PETRONAS) signed a contract with VA Tech Wabag Limited and Muhibbah Engineering (M) Bhd for the ReFEED and Engineering, Procurement, Construction and Commissioning of the Effluent Treatment Plant (ETP). During the FY 2016-17, WABAG undertook promotion of projects with better technologies for reducing plant life-cycle costs. It further successfully completed Reliance Industries' Hazira Effluent Treatment Plant (first ever plant for treating petrochemical cocktail effluent) and JSPL's Angul Effluent Treatment Plant (first ever gasification effluent plant having 80% recovery). The LATAM cluster of the Company focuses on the countries of Ecuador, Brazil, Chile, Peru, Uruguay, Mexico, Colombia and Argentina. The major focus in FY 2016-17 was to bring Centralization of infrastructure services and Global ERP upgrade. During FY 2017-18, the company further continued to extend engineering support to its global offices in Austria and Romania. With regard to Information Technology initiatives, the company primarily focused on adopting various digital initiatives and undertaking technology restructure of the Global ERP upgrade. Digitization and analytics have created lot of interest across WABAG global offices. During the year 2018, the Company incorporated a subsidiary viz., M/s VA TECH WABAG BRAZIL SERVICOS DE AGUA E SANEAMENTO LTDA in the country of Brazil. As of March 2018, the total funded financial investments of your Company through equity contribution in such ODIs amounted to Rs 25 Crore, which represents 6% of total financial commitment and the total non-funded financial investments in the form of guarantees through ODI route amounted to Rs 381.24 Crore which represents 93% of total financial commitment. The Company's overseas key projects like Madinat Salman (Bahrain) and RAPID Petronas (Malaysia) were completed in 2017-18.The Amas STP project commissioned in October 2018 in Bahrain. The performance guarantee test runs (PGTR) of the 600 MW plant in Warangal, Telangana (KTPP) was completed. The Malaysian Petronas Rapid Project became fully operational in 2019-20. The Company commissioned the largest drinking water plant with skid capacity of 27,200 m3 /day in Muscat catering to over 5 lakh people. WABAG India commissioned the Tertiary Treatment Reverse Osmosis (TTRO), a landmark project for the city of Chennai and is also the largest Water Recycle and Reuse Plant for WABAG in 2020. The Company commissioned 45 MLD Tertiary Treatment Reverse Osmosis Plant in Koyambedu, Chennai in 2020. It completed and handed over the Greater Dambulla Water Supply Project to National Water Supply & Drainage Board of Sri Lanka. The Mangalore Refinery and Petrochemicals Limited (MRPL) of a 30 MLD Sea Water Reverse Osmosis, India was commissioned effective 31 March, 2022. A 220Kv line and GIS station, 3 Electrical substations, 690V VFD driven High Pressure Pumps and most critical process pumps consisting of 26 nos. were commissioned in 2022. The Company got Rs 4,400 Crore for the Development, Construction, and Operation of a 400-Million Litres a Day (MLD) Desalination Plant in Chennai in 2024. Further, it completed one of the largest 'Central Zero Liquid Discharge Plant'(CZLD) Plant of Steel Industry for NMDC Steel Ltd. at Jagdalpur, Chhattisgarh, India in FY24. The Company commissioned over 1,400 MLD of desalination capacity in FY 2025. It completed the breakwater construction, welding of the intake pipeline, and its precise launching into the flotation channel. WABAG has made a strategic entry into the fast-growing solar PV sector for the supply of ultrapure water for PV cell manufacturing. The Ultra Filtration (UF) system has been commissioned, while mechanical works for the Reverse Osmosis (RO) unit got completed in FY 2025.